HC notice to govt, RBI on Seashore plea

CUTTACK: Acting on the petition filed by Seashore group of companies seeking defreezing of its bank accounts, Orissa High Court Tuesday served notices on the Reserve Bank of India (RBI), state government , crime branch (CB) of the state police and others to respond in this connection.

According to the petition, the economic offences wing (EOW) of CB had sealed 25 subsidiaries and frozen 126 bank account of the group, the CB sleuths raided several offices of the company July 18 following which the former had written a letter to the state government urging it to scrap its license on charges of fraud, financial irregularities and swindling public money.

The CB had sealed the head office of the company May 18 which followed a series of seizures of the company offices. The EOW has charged Seashore chairman-cum-managing director Prashant Das with fraud of Rs 1,000 crore and arrested him from Mumbai.

The company moved the HC alleging that the CB had seized its accounts without mandate and prayed to defreeze the account. A division bench comprising Justice Pradip Mohanty anf Biswajit Mohanty heard the case.

BHUBANESWAR: Investors across the State duped by financial institutions staged a massive rally at the PMG Square here on Wednesday demanding recovery of their money deposited with the fraudulent companies.

BHUBANESWAR: Investors duped by SaiPragati Assets and Properties Private Limited on Monday staged a demonstration in front of the chief minister's grievance cell here demanding CBI probe into the scam. The investors alleged that the money circulation company duped around 85,000 people in the state of nearly Rs 650 crore. Currently, the Economic Offences Wing (EOW) of the Crime Branch is probing the financial irregularity by the company.

CUTTACK: The Orissa high court on Tuesday rejected the bail application of realtor Tirupati Panigrahi and two of his associates, who were arrested in December last year for allegedly duping land buyers of crores of rupees.

BHUBANESWAR: Seashore Group CMD Prashant Kumar Dash was on Friday produced before the Nabarangapur Sub-Divisional Judicial Magistrate (SDJM) Court here for his alleged fraudulent activities and embezzlement of money through Seemanchal Multi Purpose Cooperative Ltd in the periphery of Nabarangpur.

BHUBANESWAR: A delegation of slum leaders from the city-located Salia Sahi on Tuesday met Governor Dr SC Jamir and pressed for their demand of providing land pattas as land rights to the occupants of the Salia Sahi slum.